Finance

Road to SLO off to a flying start: Wrap-up week 1, Waterfront extravaganza

The highly anticipated first week of the Road to Secondary Land Offering (or Road to SLO in short) has just been finished after 3 days of Dutch auction style selling of 25 waterside M(edium) and XL(arge) parcels.

The Road to SLO is 10 consecutive weeks of parcel auctioning by Somnium Space. After the Road to SLO the company will announce the date of the Secondary Land Offering (SLO), which is most likely happening during the second half of 2020. If you want to know more and perhaps grab a few Somnium parcels yourself, check out this article: https://somniumtimes.com/2020/03/13/press-release-road-to-secondary-land-offering/

Waterfront extravaganza

The first week focused on medium and xlarge waterfront parcels (including parcels close to the waterfront). Waterfront parcels are in demand and have seen considerable surges in value in the past months.

Number of sold parcels

A total of 25 parcels were put on auction by Somnium Space and all 25 were sold before the end of the 3-day auction period. The first parcel auctioned was parcel 2899, an XL parcel on the eastern shore of the biggest island in Deep Oasis Lake.

The total amount spent landed on 110 ETH, which is 4.4 ETH on average per parcel.

Price for each parcel

The following chart shows the price per parcel.

Average Price per parcel type/size

The following chart shows the average price per parcel size. XL parcels went for roughly double the amount (6 ETH on average), compared to the Medium parcels (3 ETH on average).

Rank on OpenSea

Somnium Space climbed the ranks on OpenSea as far as total weekly transaction volume is concerned, which landed on an impressive 224 ETH. This means an overall 4th place.

Finally

We contacted Artur Sychov, founder and CEO of Somnium Space for a first reaction.

I am delighted to welcome many new citizens to our VR world and we can not wait to see what those artists, business owners and simply VR fans will build within next days.

Didn’t get a parcel this time around? Do not despair, the second week of Road to SLO is just around the corner!

Useful Links

Somnium Space

Road to Secondary Land Offering (SLO)

Somnium Space on OpenSea

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